This technological company skyrocketed on acquiring an automotive solutions firm

This technological company skyrocketed on acquiring an automotive solutions firm

by 5paisa Research Team Last Updated: Dec 10, 2022 - 07:18 pm 10.3k Views
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Axiscades Technologies touches roof on getting the nod to acquire a 100% stake in add solution GMBH.

Axiscades Technologies is currently trading at its upper limit of Rs. 367.75, up by 17.50 points or 5.00% from its previous closing of Rs. 350.25 on the BSE. The scrip opened at Rs. 367.75 and has touched a high and low of Rs. 367.75 and Rs. 354.05, respectively.

The BSE group 'B' stock of face value of Rs 5 has touched a 52-week high of Rs 367.75 and a 52-week low of Rs 75.40. The promoters holding in the company stood at 66.53%, while Institutions and Non-Institutions held 0.09% and 33.38%, respectively.

Axiscades Technologies has received approval for the 100% acquisition, in a phased manner, of add solution GMBH, Germany, specializing in automotive solutions to global OEMs. The proposed acquisition will provide a strategic foothold to AXISCADES in the Automotive space, besides firm contracts with marquee automotive OEMs. This will lead to significant offshoring opportunities and enhanced business for AXISCADES in the automotive space, both in India and globally. The Board of Directors of the company at their meeting held on November 9, 2022, has considered and approved the same.

Axiscades Technologies is a holistic technology and engineering solutions provider, with a footprint across the entire product lifecycle management needs of global OEMs and core engineering firms.

The company is focussing on the addition of new clients in digital offerings and on innovation & technology to address the requirement changes of customers. It also plans to expand and strengthen Industry 4.0 and digital offerings.

The topline of the company in FY22 is Rs 610 crore. In FY23 Q2 topline was Rs 196 crore. The operating margin in FY23Q2 saw a huge jump to 20.1% from 12.8%. The company generated Rs 21 crore in net profit in FY23.

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